Oil isn’t worried about US-Iran dispute

Talk of US imposing fresh sanctions on Iran failed to lift oil prices in Asia.

U.S. President Donald Trump said on Thursday in a tweet that Iran had been "put on notice" after the country tested a ballistic missile.

In response to Trump’s tweet, Brent oil prices clocked a high of $56.92 earlier today before falling back to $56.70 levels. Prices had clocked a high of $57.41 on Thursday. On similar lines, WTI oil backed off from the session high of $53.93 to $53.71.

Moreover, markets are more worried about the rising US supplies. US-Iran related news flow and US Baker Hughes Oil rig count number could influence oil prices today.